This excerpt taken from the ATVI 8-K filed Oct 2, 2008.
Item 7.01 Regulation FD Disclosure.
Robert A. Kotick, the President and Chief Executive Officer of Activision Blizzard, Inc. (the Company), and Brian G. Kelly, the Companys Co-Chairman, each established a securities trading plan designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934 (the Exchange Act), as a part of their long-term asset diversification strategies. Under Mr. Koticks plan, which was adopted on September 10, 2008, several trusts and other entities may exercise, under pre-arranged terms, options to purchase up to 4,941,352 Company shares and sell the shares received upon exercise, as well as sell up to 6,742,424 of other Company shares. Under Mr. Kellys plan, which was adopted on September 9, 2008, he may exercise, under pre-arranged terms, options to purchase up to 10,634,888 Company shares and sell the shares received upon exercise. Both plans are in effect for a twelve month period. Actual transactions under these plans will be reported from time to time, as appropriate, on Forms 4 and 144 filed with the Securities and Exchange Commission.
Rule 10b5-1 permits directors, officers and other employees to adopt written, pre-arranged stock trading plans when they are not aware of material non-public information about the company. Other Company directors, officers or employees may adopt Rule 10b5-1 plans from time to time in the future. Except as may otherwise be required, the Company does not undertake any obligation to update or report any modification, termination, or other activity under these plans or any other plan that may be adopted by other directors, officers or employees.
The information in this Form 8-K shall not be deemed filed for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.